One of the world's biggest high-speed trading firms is killing it

Need for speed

Virtu Financial, one of the biggest high-speed trading firms in the world, likely killed it in the third quarter.

The electronic trading firm, which reports third quarter earnings on November 4, is likely to report increased revenue across most asset classes, according to a UBS note out Monday.

“The 3Q saw periods of heightened volatility that should certainly help results, as well as single-day spikes during market selloffs”, the note said.

The analysts said that their upside scenario included a 20% jump in adjusted net trading income across equities in Europe, Middle East and Africa and Asia Pacific, as well as in fixed income, options and global currencies.

They raised their price target to $US26 from $US24, and said they believed the debate about interest rates and macroeconomic growth will “drive further periods of elevated market volatility.”

The Wall Street Journal reported in August that Virtu had one of its most profitable days in history on August 24, known as China’s ‘Black Monday’.

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